Portugal posted a trade deficit of €2.546 billion in February 2026, widening from €2.057 billion in the same month a year earlier. Exports fell sharply, down 14.9% year-on-year to €6.174 billion, weighed by significant declines in sales of transformed motor fuels and lubricants (-47% to €139 million), industrial products (-28% to €1.823 billion), and auto parts and accessories (-11.1% to €578 million).
Imports declined more moderately, dropping 6.3% to €8.720 billion, reflecting lower purchases of foreign primary fuels (-37% to €322 million) and passenger cars (-13.6% to €634 million). By contrast, imports increased for inputs used by industrial food manufacturers (up 40% to €130 million) and for industrial transportation equipment (up 43% to €274 million).
